The performance of the residential housing market over the last ten years has been remarkable.According to the Office of Federal Housing Enterprise Oversight (OFHEO), house prices have appreciated at an annual rate of 5.4 % on average (68.9 % over the whole time period). Perhaps even more remarkable is that the performance was strong even when economic activity overall was weak. Average annual appreciation rates have been 7.4 % (26 % in total) since the collapse of the Nasdaq in 2000 and 7.1 % (20 % in total) since 2001:Q1, the beginning of the 2001 recession. In contrast, since the start of the 2001 recession, the S&P 500 and Nasdaq have averaged negative annual returns of –2.43 % and –1.42 % respectively. These kinds of statistics have generated an enormous

arbitrageurs from aggressively betting against them. As a result, prices can diverge significantly from fundamental values even in the absence of fundamental risk. Moreover, bearing a disproportionate amount of risk that they themselves create enables noise traders to earn a higher expected return than do

A fundamental assumption in economic analysis is that economic agents know their tastes — their likes and dislikes — before choosing between options. This assumption supports many of the normative claims of economic theory, notably the claim that free market exchanges necessarily increase

emerged that have a revised logic focused on intangible resources, the cocreation of value, and relationships. The authors believe that the new perspectives are converging to form a new dominant logic for marketing, one in which service provision rather than goods is fundamental to economic exchange

This paper analyzes the fundamental changes in market structures that may result from the increasing use of information technology. First, an analytic framework is presented and its usefulness is demonstrated in explaining several major historical changes in American business structures. Then

have distinct conceptions of individuality that insist on the fundamental relatedness of individuals to each other. The emphasis is on attending to others, fitting in, and harmonious interdependence with them. American culture neither assumes nor values such an overt connectedness among individuals

-regulation with a promotion focus (accomplishments and aspirations)from self-regulation with a prevention focus (safety and responsibilities). This principle is used to reconsider the fundamental nature of approach-avoidance, expectancy-value relations, and emotional and evaluative sensitivities. Both types

This paper presents the fundamental principles underlying tabu search as a strategy for combinatorial optimization problems. Tabu search has achieved impressive practical successes in applications ranging from scheduling and computer channel balancing to cluster analysis and space planning

predictive model for estimating the value of future cases). At the core of the process is the application of specific data-mining methods for pattern discovery and extraction. 1 This article begins by discussing the historical context of KDD and data mining and their intersection with other related fields. A

Culture influences action not by providing the ultimate values toward which action is oriented, but by shaping a repertoire or "tool kit " of habits, skills, and styles from which people construct "strategies of action. " Two models of cultural influence are developed